Bitcoin becomes Legal Tender in El Salvador

Re:Bitcoin becomes Legal Tender in El Salvador by Tabular-Iceberg on Wednesday June 09, 2021 @03:52AM (#27445346)

Isn't the whole point of Bitcoin to bypass the entire concept of "legal tender"?

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Re:Bitcoin becomes Legal Tender in El Salvador by pinkybanana on Wednesday June 09, 2021 @03:53AM (#27445353)

There is no centrally defined "point of Bitcoin".

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Re:Bitcoin becomes Legal Tender in El Salvador by crypto-cousin on Wednesday June 09, 2021 @04:05AM (#27445421)

Sounds like you grasp the key concepts of decentralization :)

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Re:Bitcoin becomes Legal Tender in El Salvador by ben_w on Wednesday June 09, 2021 @04:27AM (#27445553)

I think you’re mixing up “fiat currency” with “legal tender”. The former being “money created and backed by the power of a government” and the latter being “money which a government says courts are required to recognise when offered as payment for a debt”.

If we were on the gold standard, gold would be legal tender, even though it isn’t fiat.

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Re:Bitcoin becomes Legal Tender in El Salvador by timdaub on Wednesday June 09, 2021 @03:57AM (#27445375)

no?

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